CBSE Class 12 Economics — Human Capital Formation in India

Read the following statements : Assertion (A) and Reason (R). Choose the correct option from those given below : Assertion (A) : Education facilitates the assimilation of knowledge and competencies. It also fosters inventive capacities and enhances the aptitude to integrate advance technology. Reason (R) : Education plays a pivotal role in transforming cognitive perspectives and serves as a catalyst for the economic advancement of a nation.

Identify, which law guarantees free and compulsory education upto the age of 14 years. Explain, how does it help in enhancing access to education. (1+2)

In your opinion, how has the increase in public spending on education contributed to India's social and economic transformation ? Support your answer with valid arguments.